Ecolab increases dividend for 24th consecutive year

Dividend Aristocrat Ecolab (ECL) will hike its dividend by 6.1%.

Ecolob raises its quarterly dividend from $0.33 to $0.35 per share, marking 24 consecutive years of dividend increases. Last year the dividend was raised by 20%.

Commenting on the increase, Douglas M. Baker, Jr., Ecolab’s Chairman and Chief Executive Officer said, “We enjoyed continued growth and development of our business in 2015, and we further strengthened our financial position. This dividend increase continues our long history of raising the cash dividend, and is consistent with our practice to increase our dividend in line with this year’s earnings growth. We remain committed to developing superior returns for our shareholders through our business progress and dividend growth.”

At a stock price of $117.78 Ecolab currently has an estimated dividend yield of 1.2%.

Source: Ecolab

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